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Wall Street

Pew Financial Reform Project National Poll: Major Findings

May 25th, 2010

A poll of 1,000 likely 2010 general election voters was conducted on March 4-8, 2010 by the bipartisan polling team of The Mellman Group and Ayres, McHenry & Associates.  The poll has a margin of error of ± 3%. Here are some key results.  



Senate Amendments Could Be Major Setbacks for Credit Card Issuers

May 18th, 2010

The Senate isn’t quite finished regulating the credit card industry.

Senators have surprised the industry with unexpected, tough amendments that would limit interchange fees and allow caps on interest rates.

The amendments that pass will be included in the financial reform bill being debated in Congress. Both would be significant blows to the bottom line of credit card issuers.


New York attorney general looks at credit rating agencies

May 14th, 2010  |  Source: FierceFinance.com

Is Andrew Cuomo (Andrew Cuomo news) bent on further reform of the credit rating process?

The New York Times reports that the New York attorney general has initiated an investigation of eight banks with an eye on determining whether they provided misleading information to rating agencies.


Too Large to Fail and just too stupid to exist?

April 13th, 2010  |  Source: FierceFinance

Another erroneous foreclosure at Bank of America

It’s happened again. Bank of America, by some measures the largest bank in the United States, has erroneously foreclosed on a house and then sold it right out from under the owners, who were up to date on their payments and the victims of another mistake.


Michael Fairbanks knows what he is talking about and blogs it on HuffPo

March 8th, 2010

Michael Fairbanks is a Co-Founder of SEVEN, a philanthropic foundation run by entrepreneurs, whose strategy is to produce films, books and original research to markedly increase the rate of diffusion of enterprise solutions to global poverty.

He is the founder and Chairman Emeritus of the OTF Group, a strategy-consulting firm based in Boston, and the first venture-backed U.S. firm to focus on developing nations. He was a U.S. Peace Corps teacher in Kenya, and a Wall Street banker.


Fed getting tough on pay

September 18th, 2009  |  Source: CNBC

Wow, the Fed is taking what would appear to be a very hard line on pay practices at the top 25 banks. It has floated plans to scrutinize–and reject if it deems necessary–pay practices at these banks, including pay for many employees, not just the top earners.


Empty docks: Wheels of justice are grinding awfully slow

September 4th, 2009  |  Source: Financial Times

How many financiers do you think ended up in jail after America’s Savings and Loans scandals? The answer can be found in a fascinating, old report from the US Department of Justice.

According to some of its records, between 1990 and 1995 no less than 1,852 S&L officials were prosecuted, and 1,072 placed behind bars. Another 2,558 bankers were also jailed, often for offenses, which were S&L-linked too.


Niall Ferguson explores why most quantitative economic models failed to anticipate the magnitude of the current global economic crisis.

September 3rd, 2009

In a new executive education program, leading historian and HBS Professor Niall Ferguson explores why most quantitative economic models failed to anticipate the magnitude of the current global economic crisis, and illuminates future scenarios for the world economy.


The Resilience of the Co-op Business Model

June 10th, 2009

Overlooked by the mainstream media and only rarely discussed in the management journals is the resilience of the Co-operative business model.  The reason for this may well be the lack of management scandals, which have plagued the corporate and the nonprofit sectors over the past 20 years.


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